Setting up a new business online?

Jimmy bo 186

Hello,

I have started importing some electronic goods from China. I want to advertise and sell my goods online, eg facebook business page, adverts shop page etc. However, I do not know if i should register as a business yet. I do not know if there are any legal requirements or if i could get in serious trouble for operating an unregistered business.

Basically i want to sells some goods, see what sells and what doesn't and go from there. I hope to set up a shop down the line but i need to make some money before i can do that.

What are your opinions on starting a new business and the best way to go about it in the beginning?

Thanks

jimmii

Adition income should be declared for tax how to do that is going to depend on the level of income. If this is going to be a small side hobby then you can declare the additional income via PAYE anytime if it is going to be over ~€5k then you need to complete a TR1 form and register as self-employed. I would be wary of importing electronic products from China it is just too hard to trust the quality all you need is one dodgy product coming in and you could end up in a lot of trouble. Some manufacturers are more than happy to stick a CE mark on things even if its just being thrown together.

Dades

You might need to register a business name on the CRO website if you want to get a .ie domain name.

This only costs €20 and doesn't have any tax/filing implications for you unlike setting up a company.